Ubiquitous big-box colossus IKEA has shown some great green developments lately, from flat-pack bike trailers to eco-friendly lines of housewares. Now the patent purveyor of all things flat-pack has announced plans to invest $77 million into its GreenTech energy fund with the goal of eventually producing solar panels, efficiency meters, and energy efficient lighting. Granted its massive distribution network, IKEA’s uptake of green tech could pose a monumental shift in the accessibility and affordability of these technologies.

As far as big-box retailers go, it’s hard to dispute the sphere of influence that IKEA casts over the world market. Striking a golden balance between quality and affordability has allowed the furniture giant to build an extensive network of 270 stores in 35 countries, attracting half a billion customers every year. IKEA’s recent investment is exciting because it stands to mobilize these massive distribution channels towards the proliferation of green technology.

IKEA’s GreenTech fund was established eight months ago and is looking to invest in up to ten startups over the next five years. These investments will focus in five key areas: solar panels, alternative light sources, product materials, energy efficiency, and water saving and purification. IKEA hopes to bring its first wave of green tech products to market within three to four years.

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5 Comments

Perfect! Something else for every college graduate to decorate their first apartment with – a solar panel they don’t know how to use! just kidding. This is actually a great idea. Costco is starting to sell them too out in California.

The acronym IKEA is made up of the initials of his name (Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born; and the nearby village Agunnaryd.

SPGAugust 12, 2008 at 1:47 pm

I’m waiting for the day that we can pick up a “Solfrangvfptf” or other unpronounceable solar package from the self serve aisles of Ikea. Drag the flat packed panels home and set up our own mini solar generation system. That would be sweet, and you’d have yet another extra allen wrench and two random screws as well as solar power.

JimMcDoshAugust 11, 2008 at 5:35 pm

Dude, the meatballs at IKEA are the best I have ever had. I would highly recommend them!

The word “eponymous” is something picked up, often incorrectly, in Lit classes. Hamlet the character lends his name to the title of the play containing him. He is therefore the eponymous character of the play. If IKEA were the name of a real or invented “big-box colossus” lending its name to retail outlets, then with respect to those outlets we might call IKEA eponymous. However, IKEA is the outlets and the manufacturer, so the use of the word “IKEA” on its stores amounts to calling itself by its own name. When Mike uses his given name on the byline, he does not become the eponymous Mike Chino, but when big box-stores start calling themselves Chino’s….